AbstractPhospholipase C is a family of cellular proteins believed to play a significant role in the intracellular signaling mechanisms utilized by diverse hormones. One class of hormones, polypeptide growth factors, elicits its influence on cellular function through stimulation of cell surface receptor tyrosine kinase activity. Certain growth factors appear to stimulate cellular phospholipase C activity by selective, receptor‐mediated tyrosine phosphorylation of the phospholipase C‐γ1 isozyme. While the role of phospholipase C activity in growth factor regulation of cell proliferation remains to be clarified, the selective growth factor‐stimulated tyrosine phosphorylation and activation of phospholipase C‐γ1 is an interesting example of enzyme–substrate interaction at the crossroads of two important intracellular signaling pathways.